32. ACKNOWLEDGMENT

The Franchisee acknowledges that it has received (where relevant) and had a reasonable opportunity to understand:

32.1 the Disclosure Document;

32.2 a copy of the Code; and

32.3 has completed the required statements required by the Code.

32.4 that in executing this Agreement The Franchisee HAS NOT relied on any statements, representations or warranty made by us or our agents or employees except as set out in this Agreement, the Schedule or any Annexure, and furthermore the Franchisee acknowledges that any cash flows, profit and or budget projections are estimates / projections only and have been prepared to use as a guide to assist you and YOUR professionals in preparing YOUR OWN estimates and projections.